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Leslie Moonves challenges $120 million severance denial by CBS

Reuters
FILE PHOTO: Leslie Moonves, Chairman and CEO, CBS Corporation, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 3, 2017. REUTERS/Lucy Nicholson/File Photo (Reuters)

(Reuters) - Leslie Moonves, who resigned under pressure as CEO of CBS Corp, is challenging the company's decision to deprive him of $120 million in severance pay, according to a regulatory filing on Thursday. Moonves resigned amid a wave of allegations of sexual assault and harassment last September. In December, CBS denied Moonves of a $120 million severance package following a board review of the findings of an investigation into his behavior and the CBS culture conducted by two law firms hired by the CBS board. "On January 16, 2019, Mr. Moonves notified the Company of his election to demand binding arbitration with respect to this matter. The Company does not intend to comment further on this matter during the pendency of the arbitration proceedings," CBS said https://www.sec.gov/Archives/edgar/data/813828/000119312519011209/d656406d8k.htm in the filing. Moonves has denied any wrongdoing and has described his sexual encounters as consensual. (Reporting by Arjun Panchadar in Bengaluru; Editing by Shailesh Kuber)